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With 2.9% CAGR, Vaccine Market Size To Surpass USD 12.8 Billion By The End Of 2032 | Global Insight Services
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Ongoing research and development efforts have led to the creation of innovative vaccines, including mRNA-based vaccines like those against COVID-19, marking a paradigm shift in vaccine development and paving the way for rapid response to emerging infectious threats. Additionally, initiatives by governments and international organizations to enhance vaccination coverage, coupled with robust investment in immunization programs, contribute to the market's growth. The continuous expansion of the vaccine market not only addresses existing unmet medical needs but also demonstrates promise in combatting future health challenges through novel technologies and broader accessibility.
Key Trends
One key trend profoundly shaping the vaccine market is the surge in mRNA vaccine technology and its expanding application beyond infectious diseases. The success and rapid development of mRNA-based COVID-19 vaccines have accelerated research and investment in this innovative approach. This trend is not only influencing the creation of next-generation vaccines for various infectious diseases but also extending into therapeutic areas like cancer immunotherapy and personalized medicine. mRNA technology's versatility allows for swift adaptation to new pathogens and quick vaccine development, making it a promising tool for combating emerging infectious diseases.
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Key Drivers
A pivotal driver steering the vaccine market is the heightened global focus on preventive healthcare, reinforced by the imperative need to combat infectious diseases and pandemics. The COVID-19 pandemic, in particular, has underscored the critical role of vaccines in disease control and public health measures. Governments, international organizations, and healthcare stakeholders worldwide are increasingly prioritizing immunization programs to prevent the spread of infectious diseases and mitigate their impact on healthcare systems and economies.
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Market Segmentation : Vaccine Market
Vaccine Market By Age Group : Pediatric, Adult
Vaccine Market By Technology : Conjugated, Live, Inactivated, Recombinant, Toxoid, Others
Vaccine Market By Application : Cancer, Hepatitis, Pneumococcal Disease, Influenza, COVID-19, Others
Vaccine Market By Region : North America : US, Canada, Mexico, Europe : The UK, Germany, France, Italy, Spain, Netherlands, Switzerland, Asia-Pacific : China, India, Japan, South Korea, Australia, Singapore, Indonesia, Rest of Asia-Pacific, Rest of the World : Latin America, Middle East, Africa
Key Players :
AstraZeneca plc.
CSL Limited
Emergent BioSolutions Inc.
GlaxoSmithKline plc.
Johnson & Johnson
Merck & Co.
Novavax
Pfizer Inc
Sanofi S.A.
Serum Institute of India
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